ConsenSys has raised investments of $450 million

All funds will be transferred to Ethereum to “rebalance the ratio of ETH to fiat currencies”

16.03.2022 - 08:15

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All funds will be transferred to Ethereum to “rebalance the ratio of ETH to fiat currencies.”

What’s new? ConsenSys has announced the successful completion of a Series D funding round. It managed to raise a total of $450 million of investments and ConsenSys’ valuation rose to $7 billion as a result of the round.

Source: Twitter.com

Who was involved? The Series D round was led by ParaFi Capital. Other participants include large companies and funds such as True Capital Management, Third Point, Temasek, UTA VC, Microsoft, Marshall Wace, Sound Ventures, SoftBank Vision Fund 2, and C Ventures.

What will the funds be used for? ConsenSys’ funding of $450 million will be used to expand the company’s staff. A total of about 600 new employees are planned to be hired. In addition, ConsenSys plans to update the design of the popular MetaMask Web3 wallet, as well as develop the Infura blockchain project for developers on the Ethereum network.

ConsenSys is a software development company focused on the Ethereum ecosystem. One of the team’s most popular projects is the Metamask wallet, which crossed the threshold of 30 million active users in January 2022.